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Vivendi offers to buy Deutsche Telekom's stake in Polska Telefonia Cyfrowa

October 15, 2006
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French media and telecom group Vivendi has reportedly offered to buy Deutsche Telekom's stake in Polish mobile operator Polska Telefonia Cyfrowa (PTC) for $3.2 billion. The offer is an apparent bid to settle a long-running dispute between Vivendi and Deutsche Telekom over control of PTC. While Deutsche Telekom argues that it owns 98 per cent of PTC after exercising an option to buy a 48 per cent stake in it from a holding company (jointly controlled by Vivendi and Polish conglomerate Elektrim), Vivendi contends that the sale contradicts earlier court rulings and is void. Meanwhile, Vivendi's SFR wireless division has bought Swedish telecom company Tele2's French fixed line telephone and broadband unit for $450 million.

 
 
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